Demand for Funding from Adaptation Fund Reaches Record High of US$ 208.6 Million

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Demand for Funding from Adaptation Fund Reaches Record High of US$ 208.6 Million

Demand for Funding from Adaptation Fund Reaches Record High of US$ 208.6 Million

Second Largest Number of Proposals in Adaptation Fund’s History Include Four Fully Developed Regional Project Proposals

Washington, D.C. (August 8, 2016) – The Adaptation Fund has received 31 concept and project proposals to be considered at the 28th meeting of the Adaptation Fund Board (AFB) in October. The requested funding reached a new record since the Fund started receiving project proposals, as the total amount of new proposals in the latest submission period adds up to US$ 208.6 million.

The previous record in requested funding (US$ 206.5 million) was made a year ago, before the 26th meeting of the AFB. “The Adaptation Fund Board is very delighted to see that the demand for Adaptation Fund funding remains consistently high. This again demonstrates the urgency of adaptation investments in developing countries and highlights the need for increasing the share of adaptation financing in the face of the upcoming climate negotiations at COP22 in Morocco in November,” said Naresh Sharma, Chair of the Adaptation Fund Board.

“The record high amount of requested funding and second largest number of proposals send a strong signal. It also shows that the Adaptation Fund has an important role in addressing the large existing gap in adaptation finance available for developing countries and contributing to the operationalization of the Paris Agreement,” said Marcia Levaggi, Manager of the Adaptation Fund Board Secretariat.

The 19 single-country proposals received totalling US$ 111.1 million include nine fully developed proposals and 10 concept proposals. Two National Implementing Entities of the Fund, the Ministry of Finance and Economic Cooperation of the Federal Democratic Republic of Ethiopia (MoFEC) and the Partnership for Governance Reform in Indonesia (Kemitraan), are proposing projects for the first time. MoFEC’s US$ 9.98 million fully developed project proposal for a “Climate Smart Integrated Rural Development Project” is composed of climate resilient integrated water management, climate-smart integration of agriculture, land, water and forest, and capacity building components. Kemitraan’s concept proposal for a US$ 9.87 million food security project aims at building climate resilience of coastal and small island communities through applying smart adaptive measures and improving policy and institutional coordination.

Of the 12 regional project proposals, four are fully-developed proposals, which is another all-time high for the Fund in terms of regional proposals received at any one time. Three of them are from Multilateral Implementing Entities, namely UNEP, UNESCO and WMO, and one from CAF, a Regional Implementing Entity. In total, there are 12 regional project proposals with the requested funding amounting to US$ 97.5 million.

All the proposals are available online for public review and comment before the secretariat completes the screening and technical review process. Public comments are welcome and should be sent to afbsec@adaptation-fund.org by August 29, 2016 at the latest. The Adaptation Fund Board will decide at its next meeting October 6-7, 2016 in Bonn, Germany, whether to endorse the concepts and approve the fully developed proposals.

ABOUT the ADAPTATION FUND

Since 2010, the Adaptation Fund has committed US $354.89 million to support 54 concrete, localized climate adaptation and resilience projects in 48 countries, with more than 3.6 million direct beneficiaries.